Seabridge Gold (NYSE:SA) Trading Up 6.1% – Time to Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares rose 6.1% during mid-day trading on Friday . The company traded as high as $33.97 and last traded at $34.1460. Approximately 56,966 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 689,631 shares. The stock had previously closed at $32.17.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings raised Seabridge Gold from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, B. Riley Financial began coverage on Seabridge Gold in a research note on Monday, August 3rd. They set a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Seabridge Gold presently has a consensus rating of “Reduce” and an average target price of $40.00.

Seabridge Gold Stock Performance

The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -69.31 and a beta of 0.89. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $27.39 and its 200 day simple moving average is $30.05.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Analysts expect that Seabridge Gold, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seabridge Gold

A number of large investors have recently bought and sold shares of the business. Cibc World Market Inc. bought a new stake in Seabridge Gold during the 2nd quarter worth approximately $52,690,000. Sanctuary Advisors LLC bought a new position in Seabridge Gold in the 2nd quarter valued at $463,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Seabridge Gold in the second quarter worth $777,000. Northwestern Mutual Wealth Management Co. acquired a new position in Seabridge Gold in the second quarter worth $79,000. Finally, Quantbot Technologies LP bought a new stake in shares of Seabridge Gold during the second quarter worth $43,000. 34.85% of the stock is currently owned by institutional investors.

Seabridge Gold Company Profile

Seabridge Gold Inc, together with its subsidiaries, engages in the acquisition and exploration of gold properties in North America. The company also explores for gold, copper, silver, and molybdenum deposits. The company was formerly known as Seabridge Resources Inc and changed its name to Seabridge Gold Inc in June 2002. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.